Group Nine Acquisition Corp. (NASDAQ:GNAC) rose 0.2% during mid-day trading on Monday . The stock traded as high as $9.75 and last traded at $9.70. Approximately 45,420 shares were traded during trading, an increase of 67% from the average daily volume of 27,166 shares. The stock had previously closed at $9.68.
The company has a 50-day moving average of $9.72.
Several hedge funds and other institutional investors have recently modified their holdings of GNAC. Wolverine Asset Management LLC acquired a new position in shares of Group Nine Acquisition during the first quarter worth approximately $38,000. Nomura Holdings Inc. acquired a new stake in Group Nine Acquisition in the first quarter worth approximately $121,000. Flow Traders U.S. LLC acquired a new stake in Group Nine Acquisition in the first quarter worth approximately $125,000. Berkley W R Corp acquired a new stake in Group Nine Acquisition in the first quarter worth approximately $147,000. Finally, Geode Capital Management LLC acquired a new stake in Group Nine Acquisition in the second quarter worth approximately $156,000. Institutional investors and hedge funds own 53.26% of the company’s stock.
Group Nine Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.
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